Tesla Motors CEO Elon Musk has converted 532,000 stock options into stock, the company said late Friday.
A company spokesperson said Musk had exercised the stock options, said to have been valued at about $7 a share, into shares that currently trade at $192.
"This week Elon increased his investment in Tesla," the company said. "He exercised and held 532,000 stock options, which is approximately $100 million in current value."
The company made the announcement after the market closed Friday. Tesla will report fourth-quarter earnings Feb. 10.
Musk reportedly owns 29 million shares in the Palo Alto electric car company, or about...